It’s a seller’s market: Due to COVID-19, record-low interest rates have made it cheap to borrow and unattractive to save. Expats returning home and increased activity from first home buyers and investors have put pressure on housing stock, driving up prices.
Although skyrocketing house prices make it difficult for buyers, they also put pressure on sellers. Homeowners selling to upgrade or downsize are usually selling and buying in the same market. Some commit to purchasing a new home before selling their existing one.
Homeowners wanting to get the best price on their home should focus on the fences, gardens, kitchen and bathroom/s. They also shouldn’t be afraid to leave a job for the new owners to do, real estate agents say.
Ray White chief operating officer Daniel Coulson, said it’s important sellers don’t go overboard personalising their home. Leaving a job for the new owners also isn’t a bad idea.